International Assets Investment Management LLC Raises Position in Rapid7, Inc. (NASDAQ:RPD)

International Assets Investment Management LLC grew its stake in Rapid7, Inc. (NASDAQ:RPD) by 3,888.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 678 shares of the technology company’s stock after purchasing an additional 661 shares during the period. International Assets Investment Management LLC’s holdings in Rapid7 were worth $27,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. raised its position in Rapid7 by 252.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after purchasing an additional 2,719,791 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Rapid7 by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock valued at $24,691,000 after acquiring an additional 18,907 shares during the period. Fred Alger Management LLC grew its position in Rapid7 by 0.3% in the 2nd quarter. Fred Alger Management LLC now owns 494,509 shares of the technology company’s stock valued at $21,378,000 after acquiring an additional 1,297 shares during the last quarter. Cannae Holdings Inc. bought a new position in Rapid7 in the 2nd quarter valued at $15,130,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in Rapid7 by 37.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 185,781 shares of the technology company’s stock worth $9,102,000 after purchasing an additional 50,603 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RPD shares. UBS Group cut their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday. Baird R W downgraded shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.59.

Rapid7 Stock Performance

RPD stock opened at $40.54 on Friday. Rapid7, Inc. has a one year low of $32.94 and a one year high of $61.88. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 64.35 and a beta of 0.96. The firm has a 50-day simple moving average of $38.02 and a two-hundred day simple moving average of $38.76.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a net margin of 5.65% and a negative return on equity of 99.08%. The company had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. Rapid7’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities analysts predict that Rapid7, Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares of the company’s stock, valued at approximately $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

About Rapid7

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.